With banks eager to do business with small and medium enterprises sector in the scenario of economic slowdown, the Confederation of Indian Industry, Tiruchi Zone, on Friday organised its MSME Financial Excellence (FinExe) 2009 as a platform for discussions and interactions on the availability of credit and finance, and the funding gaps; State and central government schemes for Micro Small and Medium Enterprises; Export Control Regulations; Foreign Exchange Rules & Regulations; Cost Control/ Management Tools and Techniques; Finance related Statutory compliance and Credit Rating; and Accreditation & Tariffs.
The MSME Finance Marketplace initiative for greater industry engagement and development of the MSME sector in the southern region factored in the increasing entrepreneurial spirit and innovative approaches in the industry and took into consideration the projection that the contribution of MSMEs will touch 22 per cent of India’s GDP by 2012.
According to the organisers, the purpose of the initiative was to enable and promote an exchange of information and address issues of financing MSMEs among banking and finance professionals and institutions, and to further improve the development and growth of the sector. The objectives were to showcase current approaches and strategies on the various issues that confront MSME financing; to deepen the knowledge and understanding of the organization’s financial management; and to enhance the participants’ capabilities in providing better consultancy and mentoring services, the Chairman of the CII Tiruchi Zone, Leo Ananth J. said.
The highlight of the CII Tiruchi Zone’s third market place initiative was creating a marketplace set up for one on one interaction between the MSME members and financial experts. The 12 financial experts were drawn from seven organisations: MSME Development Institute, Karur Vysya Bank Ltd, Export Credit Guarantee Corporation, Tamil Nadu Industrial Investment Corporation, CRISIL Ltd, Institute of Chartered Accountants, Trichy Chapter, and N Krishnaswamy and Co Chartered accountants to address and clarify the issues and queries of members.
The event, a one-stop point for MSME members in Central Tamil Nadu to know about all the information and services related to finance, attracted representatives of over 60 companies. They learned about the current trends, MSME schemes of the Central and State Governments, and the benefits from other financial institutions, said the Chairperson of MSME Panel, CII Tiruchi Zone, Rani Muralidharan.
Members of CII Tiruchi Zone, Tiruchi District Tiny and Small Scale Industries’ Association, and Women Entrepreneurs’ Association of Tamil Nadu participated in large numbers.